They may still be far from being released, but the next generation of consoles is already generating excitement in the gaming world.

The release of the Nintendo Wii U later this year is likely to only add to that excitement, whetting our appetite for new consoles.

The Wii U is sure to be an innovative and forward-think gaming machine. But when it comes to the truly next-gen consoles, only the Xbox 720 and PS4 will do.

There has been all sorts of speculation of the next-gen Playstation, with unnamed sources, vague job listings and analysts’ opinions all forming the basis or a rumour or two. So what are the latest PS4 rumours?

Sony PS4 release date

The question on most gamers’ lips is, of course, when on Earth we’ll see this long-awaited console. With the Xbox 720 generally expected to be released at the end of next year (although this is also up for debate), you’d think the PS4 would have a similar release time-frame.

Not according to some industry analysts, who have suggested that the next-gen Playstation won’t arrive until May 2014.

Sony and Microsoft will not want to release their console at the same time, so there could be some truth to this one. Having said that, Sony won’t want to fall too far behind in the sales race.

Sony PS4 specs and features

The PS4 is expected to have a mammoth 1.5 TB hard disk drive, as well as USB 3.0 ports and a HDMI connect port. It’s also expected to have a minimum of 2GB RAM and be powered by a 32nm 8 Core Cell processor.

Other speculated features include full 3D support with 4K2K compatibility, and the device is set to support 3D Blu-Ray. We can also expect plenty of synchronisation with the Sony Bravia and the Sony smartphones.

Another interesting feature that’s been suggested is one an automatic switch-off every 30 minutes of no activity, which will apparently extend the life of the console.

Sony PS4 games

A whole host of games are expected to be made available on the PS4, including some very exciting additions to popular franchises.

Call of Duty: Modern Warfare 4 is rumoured to be a next-gen title, while some reports are suggesting we’ll see Gran Turismo on the PS4 too.

This is in addition to suggestions that the long-awaited Doom 4 will also be available on the PS4, with Id Software stating that it’s working on an “unannounced game for future-generation consoles.”